Mortgage Loan News
Mortgage activity rebounds in June after two months of decline
June lending activity rebounded after two months of decline heart of the normal home buying season, according to Black Knight. After tumble in april and reach a 13-month low in May, the Originations Market Monitor report showed a monthly increase of 3.9% in volume, with the 5.9% jump in purchasing activity and 9.9%, as cash-out …
Business Highlights | Overview of the main economic stories
WASHINGTON – US consumer borrowing jumped $ 35.3 billion more than expected in May as Americans, buoyed by the reopening economy and rising employment levels, resumed heavy use of credit . The Federal Reserve reported Thursday that credit card, auto and student loans posted strong gains in May. It was the fourth consecutive month of …
UK mortgage price war escalates with 0.94% fixed rate deal | Mortgage rates
UK mortgage borrowers now have a choice of two loans with interest rates set at 0.94% for two years as the price war between lenders intensifies. HSBC and TSB are offering the ultra-low rate, which is lower than the previous best buy of 0.95%, and adds to a growing number of transactions below 1% for …
Union Home Mortgage Named Ohio’s Top Lender for USDA Rural Development Program for Second Year in a Row; ranks 10th in Nation | Business
STRONGSVILLE, Ohio – (BUSINESS WIRE) – July 8, 2021– Union Home Mortgage (UHM), a high-growth independent mortgage banking company with a world-class culture, earned first place in Ohio for the second year in a row and improves its national ranking by one place, rising to 10th , in loan volume for the United States Department …
Ellington Financial Inc.Announces Pricing for its Offering of Common Shares
OLD GREENWICH, Connecticut – (COMMERCIAL THREAD) – Ellington Financial Inc. (NYSE: EFC) (“Ellington Financial†or the “Companyâ€) today announced that it has priced a tender offer of 6,000,000 shares ordinary shares at the public price of $ 18.22 per share. The Company has granted the underwriters a 30 day option to purchase up to 900,000 …
Housing market trends buyers should watch out for in the summer of 2021
Today’s real estate market is competitive for buyers, thanks to high demand and low interest rates. Here are the housing market trends we expect in the summer of 2021. (iStock) The process of buying a home can be difficult to navigate, and today’s market has made it especially difficult for buyers. With interest rates at …
Federal Government Focuses on Purchase of “Shady” Roger Stone Condo
Veteran Republican Agent Roger Stone is in the Justice Department’s sights again, this time after a questionable mortgage deal that is the centerpiece of an ongoing civil case that alleges he owes millions of dollars. back taxes. “The government’s complaint sets out a complicated pattern. He describes the purchase of the condo as an obvious …
/cloudfront-us-east-2.images.arcpublishing.com/reuters/AE4COVRAUVJNFLHEYFNY7TCCO4.jpg)
No more guilty pleas expected from U.S. Capitol rioters linked to Oath Keepers – prosecutor
A crowd of supporters of US President Donald Trump fight with law enforcement officers outside a door they smashed as they stormed the United States Capitol in Washington, United States, January 6, 2021 . REUTERS / Leah Millis / File Photo WASHINGTON, July 2 (Reuters) – Federal prosecutors are discussing possible plea negotiations with at …
Goldman Sachs Completes $ 1.8 Billion Consumer Assistance Mandate Under 2016 Mortgage Settlements
BOSTON, July 1, 2021 / PRNewswire / – Goldman Sachs successfully completed its $ 1.8 billion the consumer’s obligation to help by virtue of its April 11, 2016 settlement agreements with the US Department of Justice and three states, according to Independent Colonial Observer Professor Eric D. Green. In his sixteenth and final report, Professor …
Nexsys Technologies and Nationwide Partner to Digitize Communication Between Mortgage Lenders and Home Insurance Providers
DETROIT, June 30, 2021 / PRNewswire / – Nexsys Technologies, a FinTech and subsidiary of Rocket Companies (NYSE: RKT) providing a suite of essential digital solutions for mortgage origination and closing, today announced its partnership with At national scale to provide real-time assurance checks using Nexsys Clear HOI. The revolutionary tool automates communication between mortgage …
Attorney General Josh Stein sues two scammers over mortgage relief
For immediate release: Monday June 28, 2021 (RALEIGH) Attorney General Josh Stein is taking action to protect North Carolina residents struggling to make their mortgage payments from illegal debt adjustment and mortgage relief scams. He filed a lawsuit against California claims adjuster Michael Grinnell and his companies, Home Relief Services and Amstar Services, and a …
Collaboration and excessive communication: Union Home Mortgage takes top honors for Top Best Workplaces 2021
STRONGSVILLE, Ohio – Union Home Mortgage calls its employees “partnersâ€. “It’s a partnership,†said Chrisshawna Cunningham, the company’s head of diversity and inclusion. “We really appreciate the contribution of everyone at all levels of the company. And it really feels like you’re my partner. You are not someone who brings me back. We work in …
Mortgage rates could increase from 2022
It looks like the era of record interest rates is soon over, as economists at the Commonwealth Bank predict that the Reserve Bank of Australia could raise the spot rate as early as 2022. The spot rate has been held at 0.10% since November of last year, with the last hike in the spot rate …
Mobile home owners fear evictions as pandemic protections end
Meanwhile, mobile home owners have had no choice but to rely on the good graces of the dominant finance companies. As Ms. Burnworth discovered, it can be difficult. His unemployment checks weren’t enough to cover his expenses after losing several short-term jobs, including one with the Census Bureau. She applied for a loan modification from …
Here’s what to know about student loans for parents
SAN JOSE, California, June 22, 2021 / PRNewswire / – As a parent, the desire to help your children is innate, so it’s understandable that you want to help pay for their education by taking out student loans for parents. But borrowing money to help your child complete school can put a strain on your …
REIA urges eligible buyers to explore expanded deposit guarantee schemes
The Real Estate Institute of Australia (REIA) had urged first-time homebuyers and single parents to consider applying for federal deposit guarantee programs after the Morrison government added more places for eligible applicants. Over the weekend, the federal government announced the addition of 30,000 places for eligible applicants under the First Home Loan Deposit Scheme, New …
Suze Orman Says Avoid This ‘Huge Mistake’ When Refinancing Your Mortgage
Suze Orman Says Avoid This ‘Huge Mistake’ When Refinancing Your Mortgage With 30-year mortgage rates stuck below 3% and at their lowest in months, homeowners are rushing to refinance their loans while they can – and cut their monthly payments, often in the hundreds of dollars. If you’re considering joining the new refi rush, personal …
June holidays cause chaos for lenders and LOs
This article first appeared in the Lending Life newsletter on June 18. register here to be received every day of the week. President Joe Biden passed a bill on Thursday, declaring June 19, or June 17, a federal holiday. Biden’s Order commemorates the date the last enslaved African Americans were told they were free. Wonderful …
Susan Mitchell Joins BCT-The Community Banking Advisory Board for Loudoun County, Virginia | state
CITY OF CHARLES, Virginie W., June 17, 2021 / PRNewswire / – (OTC: PTBS) – BCT-Bank of City of Charles, also known as Community Bank, recently announced the appointment of Susan mitchell to its advisory board for Loudoun County, Virginia. The advisory board is made up of community leaders who work and live in Loudoun …
KBRA assigns preliminary ratings to SG Residential Mortgage Trust 2021-1 (SGR 2021-1)
NEW YORK, June 16, 2021– (COMMERCIAL THREAD) – Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to six categories of mortgage transfer certificates of SG Residential Mortgage Trust 2021-1 (SGR 2021-1), a non-blue chip RMBS transaction of 202.3 million of dollars. The underlying guarantee, made up of 264 residential mortgages, is characterized by a notable …
Columbus Crew Stadium: What is Lower.com?
When the Columbus Crew announced in 2015 that their stadium would be named after Spanish insurance company Mapfre, fans might have wondered “Mapfre who?” They might have had the same reaction on Tuesday, when the crew said its new Arena District stadium would be called Lower.com field. “Yes, people might be wondering: who the hell …
The forbearance output volume continues to increase
The share of US homeowners at some stage of forbearance continues to decline nationally, falling to 4.04% of all mortgages according to the latest Forbearance and call volume survey of Mortgage Bankers Association (MBA). That total is down from last week’s share, when abstentions accounted for 4.16% of all mortgage volume. The MBA estimates that …
GF Business News: Consumer spending… new restaurants and GF tourism
US consumers absorbed a further surge in prices in May – an increase of 0.6% over the last month and 5% in the past year, the largest 12-month inflation increase since 2008. The consumer price hike in May now reflects a range of goods and services. in increasing demand as people increasingly shop, travel, dine …
US mortgage rates pull back ahead of Fed policy decision next week
Mortgage rates fell for the 2sd time in 4 weeks in the week ending in 10e June. Reversing a 4 basis point increase from the previous week, 30-year fixed rates fell 3 basis points to 2.96%. The modest drop in mortgage rates left 30-year fixed rates below 3% for a 3rd consecutive week. Compared to …
Mortgage and real estate news this week
Bankrate follows a strict editorial policy, so you can be sure that we put your interests first. Our award-winning editors and journalists create honest, accurate content to help you make the right financial decisions. The key principles We appreciate your trust. Our mission is to provide readers with accurate and unbiased information, and we have …
Fannie Mae clarifies mortgage rules for long-term delinquencies
Government-sponsored firm Fannie Mae this week released guidelines on timelines for proceedings related to questioning borrowers about post-forbearance disaster deferrals in circumstances where a loan has been in arrears since 12 months. Among other things, the new guidelines released on Wednesday make it clear that when an agent solicits a borrower who has not paid …
Huntsville City Council votes to fill vacant seat on education board
HUNTSVILLE, Alabama – Huntsville City Council has voted to fill the vacant District 4 seat on the City of Huntsville School Board. The board chose Ryan Renaud to replace the former vice-chair of the HCS Board of Education, Walter McGinnis. Reynaud was one of five candidates who interviewed for the post. “We are grateful to …
Massive mortgage deal worth over £ 17million for London r …
A seasoned mortgage buying and leasing specialist finalized his largest and most complex loan to date – a five-year £ 17.35million buy-lease facility for PTL Estates . The Octone Mortgages loan, made at 4.99% with a deferred interest of 1.0%, required a very complex underwriting as it involved the refinancing of no less than 40 …
Homespire Mortgage Gets Fannie Mae and Freddie Mac’s Service Agent Approval
Homespire Mortgage announced that it is now an Authorized Dealer / Repairer for Fannie Mae and Freddie Mac. The Maryland-based mortgage company said becoming an approved provider for government-sponsored businesses was an “important goal” of Homespire’s strategic business plan and a milestone in its continued growth. With the approval, Homespire will also have access to …
Newrez Appoints New Senior Vice President of Non-QM Loans
Newrez LLC hired Mike Smeltzer as Senior Vice President of Non-QM Loans, effective June 7. In his role, Smeltzer will be responsible for managing the production of Non-QM origination across all Newrez origination channels. He will also play a leading role in the growth of Newrez Non-QM production with product development through the credit risk, …
What is a VA loan and how does it work? – Daily Movie
The VA Loan is a mortgage loan program offered by the United States Department of Veterans Affairs. What this program does is that it sets the eligibility requirements and standards, dictates the terms of the mortgages offered, and secures a portion of the loan. One thing to note however to avoid confusion, it does not …
GF Business News: mortgage rates… auto repair shops and Walmart phones
US employers created 559,000 jobs in May, an improvement from the slow gain in April, but still proof that many companies are struggling to find enough workers as the economy quickly recovers from the pandemic recession . Last month’s employment gain was higher than April’s revised total of 278,000. The unemployment rate fell from 6.1% …
What is a title deed search?
After searching for a home to find the perfect property, you need to do another search. It’s a title search. Finding properties might not be as exciting as dreaming about browsing or moving in, but it is an important step in real estate transactions and can impact your purchase if a question arises. Here’s what …
ABQ-based credit union to acquire northern New Mexico institution
June 4 – ALBUQUERQUE, NM – A merger between Sandia Laboratory Federal Credit Union and Animas Credit Union is expected to become official on July 1, according to an SLFCU spokeswoman. The merger, which began last summer, will add three branches to SLFCU and is expected to be completed in summer 2022. The deal was …
KBRA assigns preliminary ratings to GoodLeap Sustainable Home Solutions Trust 2021-3
NEW YORK–(COMMERCIAL THREAD) – Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three categories of banknotes issued by GoodLeap Sustainable Home Solutions Trust 2021-3 (“GOOD 2021-3â€), an asset-backed securitization guaranteed by a pool of consumer solar loans and home renovation loans. The collateral pool consists of approximately $ 417.39 million in solar loans and …
Brady elected Vice-Chairman of the Board of Directors of First Northern Community Bancorp
DIXON, Calif .– (COMMERCIAL THREAD) – First Northern Community Bancorp (OTCQB: FNRN), the holding company of First Northern Bank, announced that at the May 18, 2021 organizational meeting of the board of directors of First Northern Community Bancorp and First Northern Bank, Patrick R. Brady was elected to a one-year term as vice-chair of the …
Mortgage rates will remain relatively stable in June, experts say
Editorial independence We want to help you make better informed decisions. Certain links on this page – clearly marked – may take you to a partner website and may lead to us earning a referral commission. For more information, see How we make money. Mortgage rates have remained near 3% for months, and this trend …
CFPB report reveals what’s going on with home loans
Most manufactured home loan applications are turned down and, despite low interest rates, very few manufactured home loans have been refinanced, according to a new report from the Consumer Financial Protection Bureau (CFPB). The agency found that less than a third of prefabricated home loan (MHL) applications are approved, compared to the 70% approval rate …
Residential Mortgage Survey Results for April 2021
The Hong Kong Monetary Authority (“ HKMA ”) announced the results of the April 2021 residential mortgage survey. The number of mortgage applications in April fell 7.7% month over month to 16,568. Mortgages approved in April fell 4.3% from March to HK $ 50.8 billion. Of these, mortgages financing primary market transactions declined 21.7% to …
Mortgage benefits for the National Guard
In December 2020, Congress passed the Improved Veteran Health Care and Benefits Act. Part of this bill increased the number of National Guard soldiers who have access to VA loan benefits. The United States National Guard Association estimates that more than 50,000 guards will win VA loan eligibility. what changed Previously, Guards and Reservists would …
Today’s Mortgage and Refinance Rate: May 29, 2021
If you buy through our links, we may earn money from affiliate partners. Learn more. Mortgage and refinancing rates have mostly increased or remained stable since last Saturday and since last month. It might be a good day to seek pre-approval and lock in a low mortgage rate. You may want to get a fixed …
Data provider Black Knight to acquire Top of Mind
Software, data and analytics provider Black Knight, which serves the mortgage and consumer lending, real estate and financial markets verticals, has announced that it has entered into a definitive purchase agreement. Top of Mind Networks, developer of Surefire, a leading customer relationship management and marketing automation system for the mortgage industry, for approximately $ 250 …
Launch of Fresh Home Loan, Independent Mortgage Brokers Who Work for the People ™
ALAMEDA, CALIF., USA, May 27, 2021 /EINPresswire.com/ – Fresh home loan, a team of expert mortgage brokers who help people finance their dream home and secure their future, today announced the launch of their new business. The new business works for people, not banks, “Independent Mortgage Brokers Who Work for People†™ is the motto …
Gary Royal oversees the professional development of lenders in an expanded role within the Mortgage Investor Group
KNOXVILLE, Tenn., May 27, 2021 / PRNewswire / – In an expanded role at Mortgage Investors Group, a seasoned mortgage lender Gary Royal will lead and support the professional development of loan officers as part of the company’s ongoing efforts to bring its client-focused mortgage brand to more homebuyers in the Southeast, officials from the …
Mortgage technology helps reduce closing times for fourth consecutive month
Lenders reduced mortgage closing times for the fourth consecutive month in April, approaching pre-pandemic levels. The average number of days to close has fallen to 51 from 52 in March but remains high compared to the average of 42 a year ago, according to ICE Mortgage Technology. Mortgage closing times improved the most, with the …
Virus Adds Customers to Online Loan Sites
NEW YORK – Some small businesses forced to turn to online lenders for pandemic relief are making these niche players a bigger part of their financial game plan and are even considering getting rid of their traditional banks altogether. Loans from online lenders have saved thousands of small business owners who were unable to obtain …
PennyMac Mortgage Investment Trust Announces Renee R. Schultz Has Joined Its Board of Directors
WESTLAKE VILLAGE, CA – (BUSINESS WIRE) – PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that Renee R. Schultz, a Fannie Mae veteran and an accomplished mortgage industry leader, has joined its board of directors. “We are delighted to bring Renee’s wide range of expertise to the PMT Board of Directors, â€said Chief Executive Officer …
Mortgage and refinancing rates today May 25 | Decreasing rate
Current mortgage and refinancing rates Average mortgage rates edged down yesterday. This is always good news. But that seems to have more to do with a drift without direction than an improvement in outlook. However, first thing, mortgage rates seemed likely to fall slightly again. Find and lock a great rate (May 25, 2021) Current …
Eagle County real estate brokers must adapt to a hot market
Compass Real Estate is the listing company for this home on Cabin Circle in Vail.Real Estate Compass / Daily Special We’ve been hearing for some time that inventory is tight in the Eagle County real estate market. But the local market continues to break records. How is it going? The market in the first four …
So… what’s the plan – 95.5 WSB
Just over a month after the start of this pandemic, millions of Americans were either losing their jobs or going from full-time to part-time, underemployed, unemployed and increasingly… self-employed. With housing costs being the highest fixed expense for most US households, mortgage and rent payments started to get more difficult or went unpaid. The United …
Banks gained market share in mortgage lending in the first quarter.
According to a report by Keefe, Bruyette & Woods, the quarterly increase in mortgage loan mix at eight banks has exceeded expectations for the entire industry, suggesting that this segment is regaining market share. Eight banks followed by KBW (Wells Fargo, JP Morgan Chase, US Bancorp, Bank of America, Troist Bank, First Republic Bank, Citigroup …
People on the move 05/23/21 | Business
community Bank NA GAZDICK NA Community Bank Christopher Gazdick has been hired as a branch manager for the Wilkes-Barre location at 64 N. Franklin St. In his new role, he is responsible for managing the day-to-day operations of the branch while providing excellent customer service. Gazdick manages a team responsible for mortgages, mortgages, small business …
5 Ways to Reduce Your Mortgage Closing Costs
You don’t have to accept that closing costs are going to cost a fortune. Closing costs can be very high when buying a home. In fact, according to research from The Ascent, you will typically pay 2% to 5% of the mortgage amount in closing costs. And in 2020, the average closing costs were actually …
How mortgage managers can prepare for a CFPB crackdown
The Office of Consumer Financial Protection draws a line in the sand for the mortgage services industry with new direction and proposed revisions to its mortgage loan management rules. The CFPB expects the impending expiration of federal foreclosure and forbearance protections for mortgage creditors will increase the risk of harm to borrowers and produce a …
Motto’s tailored mortgage solutions are now open
ORLANDO, Florida, May 21, 2021 / PRNewswire / – Motto Mortgage, an innovative mortgage brokerage franchise focused on transparency and compliance, has a new office in Florida. Motto Mortgage Tailored Solutions is now open in Orlando and serving all Sunshine State markets. Established by a real estate expert Gabriel L. Gonzalez Ramos, Motto Mortgage Tailored …
Texas wedding planner bought Teslas and paid off his mortgage with $ 1 million PPP loan
May 20, 2021Updated: May 20, 2021 3:39 p.m. Prosecutors finally caught up with him. Jamie Grill / Getty Images / Tetra images RF A Texas wedding planner bought two Teslas and paid off his expensive mortgage with $ 1 million in fraudulent paycheck protection program loans, according to federal prosecutors. Fahad Shah, 44, admitted to …
Mortgage default risk remained stable in Q4 2020
The estimated lifetime default risk of state-guaranteed home loans remained unchanged in the fourth quarter of 2020, the Milliman Mortgage Default Index (MMDI) results revealed. As interest rates fell to historically low levels, the mortgage default risk rate for GSE loans fell from 1.28% in Q3 to 1.27% in Q4. Meanwhile, the MMDI rate on …
First Northern Community Bancorp Reports First Quarter 2021 Net Income of $ 3.2 Million, Up 18.6% Year-On-Year
DIXON, Calif .– (BUSINESS WIRE)–First Northern Community Bancorp (the “Companyâ€, OTCQB: FNRN), a holding company of First Northern Bank (“First Northern†or the “Bankâ€), today reported net income of $ 3.2 million, or $ 0.23 per diluted share, for three months. ended March 31, 2021, up 18.6% from net income of $ 2.7 million, or …
Banker’s Hours column: evolution of mortgage loans over time
Some time in the past I acquired an e mail from Invoice Wright, a retired actual property agent and pal. He wonders how the mortgage lending course of has modified since leaving the corporate, a lot of which has concerned serving to debtors discover financing to buy their houses. It was an intriguing query, and …
How the Chain of Custody Makes Lenders Weak to Mortgage Fraud
When the well-known financial institution robber Willie Sutton he was requested why he was robbing banks, he replied: “as a result of that’s the place the cash is”. In the present day, in a world of digital banking, criminals usually tend to say “as a result of that is the place the cracks are”. As …
PCMA Unveils Nationwide OMEGA TV Promoting Marketing campaign, Focusing on Mortgages for Major and Secondary Properties
IRVINE, Calif .– (BUSINESS WIRE) – PCMA, a pioneer and chief within the class of loans to non-bank non-public shoppers, right this moment introduced the launch of the OMEGA Nationwide TV Promoting Marketing campaign specializing in the wants of the prosperous and excessive web value within the buy or refinancing of main and secondary residences. …
Mid America Mortgage Launches Click on n ‘Shut Title to Present Digitally Pushed Actual Property Closing Providers Powered by RON | nationwide
ADDISON, Texas, March 4, 2021 (SEND2PRESS NEWSWIRE) – Mid America Mortgage, Inc. (Mid America) at the moment introduced the launch of Click on n ‘Shut Title, a digital-focused residential title insurance coverage firm, to supply extra complete digital mortgage closing companies to the residential actual property market. Licensed in six states (Texas, Ohio, Tennessee, Indiana, …
TMA provides West One Loans to the panel
The TMA Membership has added the specialist lender West One Loans to its panel. The partnership provides the mortgage membership’s immediately approved brokers entry to West One’s merchandise for debtors with lower than good credit score scores in addition to skilled traders. The lender provides 80% mortgage merchandise at worth from 4.04% in its commonplace …
Laurentian Financial institution proclaims stable efficiency within the first quarter
Laurentian Financial institution celebrated a “good begin to the 12 months” after saying robust first quarter outcomes. The Montreal-based banking group posted web revenue of $ 44.8 million and diluted earnings per share of $ 0.96 for the quarter ending Jan. 31, in comparison with $ 32.2 million and $ 0.68 for the primary quarter …
What to do when debtors are misinformed by on-line analysis
Debtors right this moment have higher entry to details about the mortgage course of than they ever had up to now. After a decade during which a lot of the method has been digitized and a lot background info has been revealed on-line, the typical borrower has an unlimited array of cost calculators, valuation estimates …
PPP debtors can use gross revenue, SBA guidelines
The US Small Enterprise Administration (SBA) has launched new Paycheck Safety Program (PPP) guidelines that enable self-employed employees who full Kind 1040, Schedule C, Enterprise revenue or loss, to calculate the utmost mortgage quantity utilizing gross revenue as an alternative of internet revenue. The change opens the door to bigger loans to the self-employed, lots …
Be Secure With Rocket And The Different Mortgage Firms Now
Actions of Rocket firms (NYSE: RKT), the nation’s largest mortgage originator, jumped 70% on Tuesday, to shut just below $ 42 a share. This was in all probability fueled by WallStreetBets (WSB) merchants behind the meteoric rise of GameStop and AMC. Members of the WSB Reddit group have spoken concerning the Rocket buy, and practically …
Mortgage functions take longer attributable to Fannie and Freddie’s change
The freshly revised software for government-linked housing finance, which grew to become necessary final Monday, added an extra 30 to 60 minutes to the method this week, brokers and lenders mentioned. The brand new kind roughly doubles the variety of knowledge fields debtors want to finish and tends to extend the workload for single co-borrowers. …
PennyMac Monetary Companies, Inc. Pronounces Appointment of President and Chief Mortgage Banking Officer
WESTLAKE VILLAGE, CA – (BUSINESS WIRE) – PennyMac Monetary Companies, Inc. (NYSE: PFSI) right this moment introduced the appointment of Doug Jones as President and Head of Mortgage Banking. Mr. Jones beforehand served as the corporate’s senior managing director and head of mortgage banking, in addition to president of PennyMac Mortgage Companies, the corporate’s mortgage …